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CoinJar Relocate From Australia To UK, No Longer Charging GST

CoinJar has announced the relocation of its headquarters from Melbourne, Australia to the UK. As a result of the change, CoinJar customers are no longer subject to a GST of 10% when purchasing bitcoin via the platform.

CoinJar first began collecting the GST on bitcoin purchases as of October 3rd 2014. The addition of the GST made CoinJar the most expensive place to purchase bitcoin in Australia. After the GST was implemented, Qntra speculated that CoinJar customers had no reason to use the website as competitors, such as Circle, were now accepting credit cards from Australian users1 and did not collect the GST, making it a cheaper option despite currency exchange fees.

Such a prompt change to where the business is headquartered is a clear indication the GST was squeezing CoinJar out of the market.